The LCPR approved the 2017 omnibus pension bill at its meeting on May 10, 2017. From there, the bill, as S.F. 545, went to the State Government Finance and Policy and Elections, Rules and Administration, and Finance Committees in the Senate and, as H.F. 565, to the Government Operations and Elections Policy, Rules and Legislative Administration, and State Government Finance Committees in the House. The bill was amended in several committees and approved by each committee that considered it.
On Sunday, May 21, 2017, S.F. 545, the third engrossment, was considered by the Senate and, with several amendments adopted on the floor, was unanimously approved by all members. The bill was not heard in the House.
Governor Dayton vetoed S.F. 3 on May 30. The letter from the Governor explaining the reason for the
veto focused on his objection to the preemption provisions...
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Minnesota looking at moving to strategic asset allocation, returns 15.1% in fiscal year (P&I)
Minnesota State Board of Investment is considering restructuring its approximately $65 billion retirement investment portfolio into more strategically oriented categories.
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TRA appoints Jay Stoffel as new executive director (TRA)
Following a months-long nationwide search, the Minnesota Teachers Retirement Association Board of Trustees has selected TRA Deputy Executive Director Jay Stoffel to succeed Laurie Hacking as executive director of the TRA fund. Read full article...
Explaining Minnesota's 'hidden' pension problem (MinnPost)
States face costly future if their citizens fail to save enough for retirement (NCSL)
Most Americans are not saving enough for retirement. The problem is especially severe among small-business employees, low-income workers and communities of color. On the brink of a national retirement security crisis, state lawmakers are stepping into the breach with a spectrum of innovative solutions.
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To request or discuss legislation and for answers to questions regarding the LCPR, pension and retirement plans for public employees, and retirement topics in general, contact the Commission at:
Room 55 State Office Building 100 Rev. Dr. Martin Luther King Jr. Blvd.
St. Paul, MN 55155